Sept 5 (Reuters) - Futures tied to Canada's main stock
index inched up on Friday, ahead of the much-anticipated U.S.
and Canadian employment data that could influence the September
interest-rate decision by the countries' central banks.
Futures on the S&P/TSX index gained 0.12% to
1,717.40 points by 06:00 a.m. ET (1000 GMT). The benchmark index
ended higher for the seventh straight session on Thursday,
notching another record rally.
U.S. and Canadian jobs data, due at 8:30 a.m. ET, could
prove pivotal in shaping upcoming policy decisions by the Bank
of Canada and the Federal Reserve.
Economists forecast Canada's economy added 10,000 jobs in
August and the unemployment rate rose to 7% from 6.9% a month
earlier.
Meanwhile, forecasts for tepid U.S. job growth in August and
a rise in unemployment to 4.3%, if accurate, would confirm a
softening labor market and seal the case for an interest rate
cut from the Fed this month.
Money markets see a 71.7% chance of a 25-basis-point
interest-rate cut by the BoC on September 17. The benchmark rate
is at 2.75%.
In commodities, oil extended decline into a third session
while gold prices edged higher and copper posted modest gains on
Friday.
In corporate news, Strathcona Resources ( STHRF ) bought
additional 6.04 million common shares of rival MEG Energy ( MEGEF )
for about C$172.7 million ($124.99 million).
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory